Can we continue enjoying a healthy global economy with interminable war in the middle east?

Question

We have been fighting the Iraq war for almost 4 years now. At what
point does this strife begin to affect global commerce? Is there a
tipping point? When does middle east turmoil begin to affect the
global financial and banking system, if only from the sheer cost
of levying govt IOU's(bonds and taxes) to continue the fighting?
After the cold war ended in 89' and the initial gulf war victory
in 91', why didn't we create a new Marshall Plan to bring the
disjointed system into alignment? Are we paying for this unilateralism now? We could have created a new hybrid
United Nations/World Bank that took into account the flux
after the cold war, and established the groundwork for peace
and stability that could have lasted a century. Instead, we get
9/11, and follow it with an even more isolationist attitude.
Is it too late? I am of the firm belief that we need to establish a
UN type structure with balls/teeth, for any chance at future global peace and prosperity....

Answer 1

We have been struggling with this since we created the Jewish state after WWII. We do not have a healthy global economy. We have the least isolationist attitude in the world. War is profitable for some and unprofitable for others. This war and the Fed's lower interest rates are the only things that have kept the economy going after the .com bust. Viet Nam went on for 10 years with very beneficial economic results depending on the value you want to assign to the lives of the 50,000 kids we sent to die over there. The dollars per death ratio in this war should be much better from the oil rich Middle East.

Answer 2

Unfortunately it's all part of a healthy global economy. Ask the shareholders at Haliburton, ask those employed in the arms industry who are working overtime to complete orders and ask those involved in the oil and reconstruction industries. They all have families who will go on holiday this year. In fact you could probably ask those in the holiday industry. At the end of the day it's all paper money which will generate more paper money. Unfortunately many see economic prosperity in war.
I do agree with you regarding a UN with teeth.

Answer 3

Certainly not. You will spent a lots of money with this, and global economy will find new ways to do business and invest theirs money.